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Bitcoin increasingly important to voters ahead of US presidential election

Digital currency is gaining prominence as a key topic in political debate, influencing candidates’ agendas and voters’ decisions.

Date: 2024-05-30 Author: Marek Stiller
Bitcoin increasingly important to voters ahead of US presidential election

Bitcoin’s importance is growing ahead of the 2024 U.S. presidential election, as Joe Biden and Donald Trump are expected to face off again in the White House battle, according to a Grayscale survey on Tuesday.

According to the Grayscale survey, interest in Bitcoin is growing in part due to geopolitical tensions, risks associated with the US dollar and inflation. 47% of voters use cryptocurrencies in their investment portfolios.

Regulatory changes in the cryptocurrency industry also appear to be affecting voter perceptions, with nearly a third saying that the approval of the Bitcoin ETF has made them more interested in investing in Bitcoin.

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“As November approaches, it seems clear that cryptocurrencies will be increasingly considered by policymakers and candidates in all offices as they prepare to run for office in the 2024 elections.” – Grayscale said .

Cryptocurrencies are a cross-party issue despite the differing views of Trump and Biden

Crypto is fast becoming a hot political topic, and digital assets are expected to play a major role at a key moment in November.

Republican frontrunner Donald Trump has largely come out in favor of cryptocurrencies, while current U.S. President Joe Biden has pushed for increased regulation in the sector.

“I am very positive and open to cryptocurrency companies and all things related to this new and growing industry,” Trump said in a recent Truth Social post. “Our country must be a leader in this field. There is no other place.”

Meanwhile, Biden announced earlier this month thathe would veto a resolution passed by Congress that would effectively rescind the US Securities and Exchange Commission’s (SEC) controversial SAB 121 employee accounting bulletin.

“Restricting the SEC’s ability to maintain a comprehensive and effective financial regulatory framework for cryptocurrencies would result in significant financial instability and market uncertainty,” the letter – stated in a letter from the Biden administration shortly after the vote.

Despite the candidates’ differing views on digital assets, Grayscale’s latest findings show that cryptocurrencies are a bipartisan issue, with cryptocurrency ownership rates nearly equal among both Republicans and Democrats.

The survey found that Republicans are more likely to be interested in economic issues, while Democrats are more interested in social issues, potentially explaining why Trump recently leaned toward cryptocurrencies during the campaign.

With Trump and Biden going head to head in the polls, each candidate’s approach to digital assets could be crucial for voters heading to the ballot box in November.

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Marek Stiller
Marek Stiller
Founder of the "Cryptocurrency for Beginners" channel on YouTube. He collaborates with Łukasz to form the Arena Trading group, while at the same time being passionate about blockchain technology. His knowledge and experience in the cryptocurrency industry help beginner investors better understand this dynamic market.
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